By Craig Colgan
Darlene Goins, a former board member for the ABA Foundation, recently was named head of Philanthropy and Community Impact and president of the Wells Fargo Foundation. She will be responsible for the company’s philanthropic strategy in housing access and affordability, financial health, small-business growth and sustainability.
“Darlene is a rockstar,” says Lindsay Torrico, SVP, bank community engagement and executive director for the ABA Foundation. “Her passion is contagious and her commitment to make a positive impact will come through in this role. She’s a veteran in the industry and brings a data-driven approach to inclusive banking.”
Goins is based in San Francisco and serves on the boards of national nonprofits Prosperity Now and the Bank Administration Institute and on the Marin County Priority Setting Committee. Goins answered a few questions for ABA Banking Journal on her new role:
Q/ What got you into banking and what inspires you to stay?
A/ My engineering and decision analysis education at Stanford University led me to the field of data science applied to the financial services industry. Whether in a data scientist role, product management or sales role, I was always focused on how people make decisions, especially under various constraints, and looking at ways to empower people and businesses to make better decisions. Then about a decade ago, while working at FICO, there were a lot of educational credit scores creating consumer confusion around credit. Executives asked me to think about how we could provide FICO scores to more consumers and help demystify credit for them. This is when I first recognized the importance of breaking down financial barriers and the need for robust consumer financial health education. I wanted to do more in this space, and it led me to Wells Fargo eight years ago when I joined the company to run Hands on Banking, a free financial education program. I then moved on to lead Wells Fargo’s financial health philanthropy and head our Banking Inclusion Initiative. I am inspired every day by the individuals and families we are helping, the community leaders and nonprofits we work with across the country, and my colleagues who share a desire to make a meaningful difference.
Q/ What do you tell younger bankers about the industry? And how can the banking industry help younger employees?
A/ The financial services industry is ever evolving and full of opportunity. What excites me about the financial industry today is an intentional commitment to be more inclusive and to help all individuals in our society achieve greater financial success. For example, Wells Fargo announced a collaboration with Operation Hope, a national nonprofit dedicated to financial empowerment for underserved communities, to open Hope Inside centers inside our Wells Fargo branches. The centers offer free financial education workshops and one-on-one coaching. In the community, we work with a range of nonprofits focused on economic mobility, helping people learn how to build savings, increase their credit score or gain access to capital. Working at the intersection of business and philanthropy is a great way to accelerate change. Our business leaders and bankers deliver expertise every day and our philanthropy and community impact teams strengthen financial resources available to people in the community.
Bankers can bring a passion for economic mobility and really meet people where they are in their journey. It’s a great time to be in our industry, especially if you are looking for a rewarding career where you can help others change their financial trajectory.
Q/ What got you involved in the ABA Foundation? What is it about foundation work for ABA and Wells Fargo that inspires you?
A/ Bankers are an integral part of communities. When a person wants to buy a car, start a business, buy a home, invest in higher education for their children, plan for retirement, bankers are there to help guide the way. Unfortunately, some communities have historically been underserved. And it was important to me as a Black female leader in the banking industry to bring my lived experience and the voice of the underserved to the ABA Foundation, given its history of providing financial education and resources to communities. Through the Community Commitment Awards, hearing about all the amazing programs and efforts banks of all sizes in all communities have been doing to support financial inclusion, financial health and prosperity has been incredible. When bankers unite around serving communities, we have the power to help change trajectories of lives. I wanted to be a part of that.
Q/ What excites you about your new position?
A/ Our impact includes roughly $300 million in philanthropy in 2023 and employee volunteerism of more than 830,000 hours. We are focused on strengthening historically marginalized communities by creating pathways to economic advancement and generational wealth. I’m excited to look at what kind of real outcomes we can drive with our philanthropic investments. Specifically, how we can bring the full resources of Wells Fargo to bear as we try to solve societal problems in the areas of housing access and affordability, small-business growth, financial health and sustainability. There are so many opportunities for us to strategize on new, innovative ways to drive social impact
